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3/19/2020

OFAC Delists En+, Rusal, and EuroSibEnergo | U.S. Department of the Treasury

OFAC Delists En+, Rusal, and EuroSibEnergo
January 27, 2019

Washington – The U.S. Department of the Treasury’s O ice of Foreign Assets Control (OFAC)
today li ed sanctions imposed on En+ Group plc (“En+”), UC Rusal plc (“Rusal”), and JSC
EuroSibEnergo (“ESE”), following an earlier notification submitted to Congress on December 19,
2018.
Under the terms of their removal from OFAC’s List of Specially Designated Nationals and
Blocked Persons (“SDN List”), En+, Rusal, and ESE have reduced Oleg Deripaska’s direct and
indirect shareholding stake in these companies and severed his control. This action ensures
that the majority of directors on the En+ and Rusal boards will be independent directors –
including U.S. and European persons – who have no business, professional, or family ties to
Deripaska or any other SDN, and that independent U.S. persons vote a significant bloc of the
shares of En+.
The companies have also agreed to unprecedented transparency for Treasury into their
operations by undertaking extensive, ongoing auditing, certification, and reporting
requirements. All sanctions on Deripaska continue in force.
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https://home.treasury.gov/news/press-releases/sm592

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